Don’t let your debt surprise you
When filing their taxes, taxpayers are often more than surprised by the amount they have to pay, says Jeff Haywood, CPA and owner of the blog The CPA Superhero. To make sure your owed amounts don’t take you by surprise, do your research on the deductions you could take to lower your taxable income. You can take business or personal deduction on Schedule A, suggests Haywood, and also “check to find out if [you] qualify for any of the available tax credits.”
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